Profit-taking, faster-than-expected Nov. inflation pull down PH shares

The local stock barometer slipped on Friday as investors reassessed gains after a three-day upswing, but the 7,100 barrier remained intact.

The main-share Philippine Stock Exchange index (PSEi) shed 59.57 points or 0.83 percent to close at 7,134.56 as the country reported a faster-than-expected rise in consumer prices in November in the aftermath of a series of typhoons.

Elsewhere in the region, trading sentiment was mixed.

For the four-day trading week, the PSEi added 343.1 points or 5 percent.

“The PSEi closed lower due to some profit-taking, mixed signals from the United States and the higher than expected inflation print,” said Luis Gerardo Limlingan, managing director at…

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